Robert W. Baird Increases WPX Energy (WPX) Price Target to $17.00

WPX Energy (NYSE:WPX) had its target price boosted by equities research analysts at Robert W. Baird from $15.00 to $17.00 in a report issued on Monday. The firm presently has an “outperform” rating on the oil and gas producer’s stock. Robert W. Baird’s price target suggests a potential upside of 31.89% from the stock’s previous close.

A number of other brokerages have also commented on WPX. Bank of America boosted their price objective on WPX Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, November 14th. Citigroup boosted their price objective on WPX Energy from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, October 13th. Barclays raised WPX Energy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $10.00 to $14.00 in a report on Tuesday, November 7th. SunTrust Banks set a $14.00 price objective on WPX Energy and gave the stock a “buy” rating in a report on Wednesday, November 1st. Finally, Northland Securities set a $20.00 price objective on WPX Energy and gave the stock a “buy” rating in a report on Monday, August 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $15.66.

Shares of WPX Energy (NYSE:WPX) opened at $12.89 on Monday. WPX Energy has a 12-month low of $8.39 and a 12-month high of $15.44. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.02 and a quick ratio of 0.95.

WPX Energy (NYSE:WPX) last issued its earnings results on Wednesday, November 1st. The oil and gas producer reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $224.00 million during the quarter, compared to analyst estimates of $334.38 million. WPX Energy had a negative return on equity of 5.20% and a negative net margin of 12.65%. The firm’s revenue was down 10.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.17) EPS. analysts anticipate that WPX Energy will post -0.46 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. Mitchell Group Inc. grew its holdings in shares of WPX Energy by 15.0% in the second quarter. Mitchell Group Inc. now owns 2,083,700 shares of the oil and gas producer’s stock valued at $20,129,000 after acquiring an additional 271,120 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of WPX Energy by 53.7% in the second quarter. State Board of Administration of Florida Retirement System now owns 583,368 shares of the oil and gas producer’s stock valued at $5,635,000 after acquiring an additional 203,941 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of WPX Energy by 23.1% in the second quarter. BNP Paribas Arbitrage SA now owns 215,811 shares of the oil and gas producer’s stock valued at $2,085,000 after acquiring an additional 40,522 shares in the last quarter. Comerica Bank grew its holdings in shares of WPX Energy by 0.9% in the second quarter. Comerica Bank now owns 367,384 shares of the oil and gas producer’s stock valued at $3,751,000 after acquiring an additional 3,419 shares in the last quarter. Finally, Ninepoint Partners LP bought a new position in shares of WPX Energy in the third quarter valued at approximately $13,512,000. 99.79% of the stock is owned by institutional investors.

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WPX Energy Company Profile

WPX Energy, Inc is an oil and natural gas exploration and production company. The Company is engaged in the exploitation and development of unconventional properties. It operates in the exploration and production segment of the oil and gas industry and its operations are conducted in the United States.

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